Why Eos Energy Stock Is Up More Than 20% Today

Key Points

Young energy-storage specialist Eos Energy reported encouraging preliminary first-quarter revenue numbers on Thursday.

The company also announced that its higher-capacity second production line has been successfully tested, and will begin operations soon.

Although this stock is still too risky and volatile for some investors, others see Eos Energy shares as worth the potential reward.

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Eos Energy Enterprises (NASDAQ: EOSE) shareholders are enjoying much-needed bullishness today. After a sizable 75% pullback from its January peak, as of 12:36 p.m. ET Thursday the energy-storage specialist's stock is up 23.2%.

The prompt? Better-than-expected preliminary Q1 numbers.

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Encouraging progress

They're not the company's official first-quarter results; those won't be reported until May. Based on information it already has in-hand, however, Eos Energy's management team anticipates reporting revenue of between $56 million and $57 million for the three-month period ending in March. Although only slightly, that's above analysts' consensus estimate of $55.5 million.

Production and delivery records were broken during the quarter in question as well. Battery production increased by more than 10% quarter-over-quarter, while shipments improved 17%.

Moreover, the company announced that its second -- and more efficient -- production line has been recently completed and tested, and is expected to begin commercial output before the end of the quarter currently underway.

Not a good fit for everyone, but right for some

The announcement is obviously good news, explaining today's big jump from EOSE stock. Just remember everything that's happened prior to today. Shares have fallen steeply over the course of the past two-and-a-half months after reporting Q4 revenue that fell short of analysts' estimates.

The company's also still operating in the red, and increasingly so as it scales up. That trend's not likely to have changed course since its previous quarterly report.

Nevertheless, despite today's big jump, there's a case to be made for stepping into this speculative ticker while it's still well down from January's high. The company's confirmed business backlog as of the end of last year stood at just over $700 million, and that's still only a fraction of the battery-based energy storage market that Morder Intelligence expects to be worth nearly $200 billion by 2031. With its second, more efficient production line set to begin operating by the middle of this year, Eos Energy is well-positioned to address this opportunity in a way that pushes the company toward profitability. The mere promise of this progress alone could be enough to start driving this stock higher on a more sustained basis.

Just bear in mind this name still brings above-average risk and volatility to the table.

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James Brumley has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.